Kentucky County Employees’ Retirement System, Frankfort, committed up to $200 million to ITE Rail Fund.
The retirement system’s board approved the commitment to the open-end railcar leasing fund managed by ITE Management, at its Dec. 19 meeting, a webcast for the meeting showed. The fund focuses on acquiring, managing and leasing railcars primarily in North America.
The retirement system consists of two pension funds: the $9.9 billion County Employees’ Retirement System pension fund and $3.5 billion County Employees’ Retirement System–Hazardous pension fund.
As of Oct. 31, the pension funds each had an actual allocation of 4.1% to real return.
Earlier in the week on Dec. 17, the Kentucky Retirement Systems’ board approved a commitment of up to $100 million to the same ITE fund.
The Kentucky Public Pensions Authority oversees both CERS and KRS.
